Municipalities will get telecoms funds soon

$1.2 billion distributed in proportion to population

The Cabinet has decided to pay out the municipalities’ share of revenues from telecommunications services. Municipalities are entitled by law to receive ten percent of revenues from landline and mobile phone services.

80 percent of the amount due to each municipality will be determined based on the number of registered inhabitants, and the remaining 20 percent will be based on the actual number of residents.

Telecommunications receipts had not been transferred regularly to the Treasury since 2010. These funds, which now stand at around $1.2 billion, are currently deposited in the Ministry of Telecommunications' account at the Central Bank. The Cabinet will soon adopt a scheme to determine the proper procedure for distributing these funds.